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Increased Funding Flexibility for Small Business Loans: 504 Program

This new law provides a government agency with greater flexibility in issuing loans to small businesses. This means more businesses can potentially receive financial support when needed, which could help create jobs and boost local economies. The change aims to make it easier for companies to access capital for investment and growth.
Key points
The Small Business Administration (SBA) can increase the loan guarantee limit for businesses by 15% in a given fiscal year.
This additional flexibility applies from fiscal year 2025 onwards and can be used once per year.
Before exercising this authority, the SBA must notify relevant Congressional committees.
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Expired
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Additional Information
Print number: 118_HR_10245
Sponsor: Rep. Velázquez, Nydia M. [D-NY-7]
Process start date: 2024-11-21
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

504 Program Level Flexibility Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_10245.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2024-11-21.

What are the main provisions?

Key points include:

  • The Small Business Administration (SBA) can increase the loan guarantee limit for businesses by 15% in a given fiscal year.
  • This additional flexibility applies from fiscal year 2025 onwards and can be used once per year.
  • Before exercising this authority, the SBA must notify relevant Congressional committees.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Velázquez, Nydia M. [D-NY-7].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Small Business.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

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Economy Public Investments